Korea Company Incorporation: How Foreign Entrepreneurs Can Launch a Startup with OASIS Visa Support

If you're an international tech entrepreneur with innovative ideas and aspirations to launch a startup in South Korea, the OASIS (Overall Assistance for Startup Immigration System) program could be your gateway to success. Operated by the Global Startup Immigration Center and guided by the Ministers of Justice and Small and Medium Venture Businesses, OASIS offers extensive support to help foreign startups flourish in Korea, including the chance to secure the startup visa (D-8-4).

Designed to assist international entrepreneurs in navigating South Korea’s tech industry, OASIS provides various courses and resources to support you through the visa application and startup process. This guide will detail the OASIS program, focusing on its main courses and how foreign tech startups can obtain the D-8-4 visa. Whether you're a new founder or an experienced business owner, this article will offer the insights needed to engage with Korea’s startup landscape.

OASIS Courses Overview

The OASIS program features a range of courses designed to equip foreign tech startups with essential skills and knowledge for success in Korea’s business environment. Below is a breakdown of the key courses:

• OASIS-1: Basic Intellectual Property Course (15 Points)

  Objective: Introduces the fundamentals of intellectual property and essential startup knowledge.

  Content: Covers Korean society, immigration regulations, intellectual property systems, and idea development.

• OASIS-2: Advanced Intellectual Property Course (25 Points)

  Objective: Delves into a more detailed understanding of intellectual property and its legal aspects.

  Content: Advanced patent processes, litigation systems, and IP strategies for startups.

• OASIS-3: Intellectual Property Application Support and Prototype Production

  Objective: Offers support for intellectual property applications and financial aid for patents and design registrations.

  Content: Covers application processes and commercialization of high-potential technologies.

• OASIS-4: Basic Startup Class (25 Points)

  Objective: Provides foundational startup knowledge, including immigration laws, tax systems, and business management.

  Content: Covers topics from marketing to business plan creation and legal requirements for startups.

• OASIS-5: Startup Coaching & Mentoring (15 Points)

  Objective: Offers professional advice on startup operations, including site selection and market analysis.

  Content: One-on-one mentoring sessions and site visits.

• OASIS-6: Invention & Startup Exhibition (25 Points)

  Objective: Provides opportunities for startups to showcase their intellectual property and connect with investors.

  Content: Participation in exhibitions, investor networking, and technology promotion.

• OASIS-7: Graduation from Startup Incubation (15 Points)

  Objective: Ensures a stable environment for startups by providing workspace after the incubation period.

  Content: Access to workspace for startups that have completed the intellectual property and incubation support programs.

• OASIS-8: Support for Corporation Establishment (15 Points)

  Objective: Assists with the legal process of establishing a corporation in Korea, crucial for securing the D-8-4 visa.

  Content: Corporate registration and administrative support.

• OASIS-9: Support for Startup Commercialization (25 Points)

  Objective: Supports startups in the initial commercialization and R&D stages.

  Content: Covers costs related to commercialization, R&D, and post-launch support.

Requirements for the D-8-4 Visa

To qualify for the D-8-4 startup visa, foreign entrepreneurs must meet these criteria:

• Educational Requirement: A Bachelor’s or Associate’s degree (if obtained in Korea) or a recommendation letter from the Global Startup Immigration Center.
• 80-Point Minimum: Earn a minimum of 80 points through OASIS courses, intellectual property applications, and related activities.
• Corporation Establishment: Establish a legal business entity in South Korea.

Steps to Obtain the D-8-4 Visa via OASIS

1. Enter Korea on a Short-term Visa.
2. Complete OASIS Courses: Enroll in key courses such as OASIS-1 and OASIS-4 to earn points.
3. Change Visa to D-10-2: After completing the courses, apply for the D-10-2 visa, which allows you to remain in Korea while preparing your startup.
4. Establish a Corporation: Legally set up your business in South Korea.
5. Submit IP Applications: If applicable, begin securing intellectual property rights.
6. Earn 80 Points: Accumulate at least 80 points through course completion, intellectual property work, and other qualifying activities.
7. Apply for the D-8-4 Visa: After fulfilling the point and corporation establishment requirements, apply for the D-8-4 visa, which permits you to operate your startup in South Korea.

Conclusion

The OASIS program is a valuable resource for foreign tech entrepreneurs aiming to launch a startup in South Korea. By providing the startup visa (D-8-4) and comprehensive courses, the program equips you with the essential knowledge and support to succeed in Korea’s tech ecosystem. Pearson & Partners can guide you through the entire process, from business incorporation to securing your visa. Contact us to begin your entrepreneurial journey in South Korea.